ISPFCU

ISPFCU held its 2016 Annual Meeting Friday, June 24, 2016 at the Troopers Lodge #41 in Springfield, Illinois. Members in attendance were informed of the current financial state of the institution by the officials and management staff of the Credit Union.

Chairman Boyd Butler reported on the tremendous volunteer base the Credit Union enjoys and the excellent cooperation and communication between those volunteers and the staff. Treasurer Richard Powell reported on the financial results from 2015 and stressed that although it was a challenging year ISPFCU remains financially strong and will remain that way into the future. Chief Executive Officer Megan Becker gave detailed information in regards to the challenges the organization faced as well as an overview of key growth and statistical information from 2015. Member of the Election Committee Matt Wiseman presented the 2016 election results.

Preceding the conclusion of the Annual Meeting officials and management staff held an open forum where they addressed questions and comments from the members in attendance. Questions included:

  • Member asked the percentage of Illinois State Police members versus non-ISP members who were expelled during the Member Expulsion meeting. Staff reported that 38% of the members expelled were ISP and ISP Family for 79% of the total amount lost. Another 52% originated from other law enforcement groups for 20% of the total amount lost. The remaining 10% of the members expelled were from other non-law enforcement groups for under 1% of the total amount lost.
  • Member asked about the foreclosure and collection processes. Staff reported that they vigorously pursue full collection on all amounts owed to the Credit Union unless a bankruptcy prohibits it.
  • Member spoke about the great staff assistance given on all matters.
  • Discussion was had about the need for additional volunteers to serve as Board and Supervisory Committee Members.